Establishes Montgomery County Management District No. 3 to promote economic development and impose taxes.

The bill creates the Montgomery County Management District No. 3, a special district in Texas, to promote economic development and stimulate business activity. The district can engage in activities such as making loans, providing grants, and offering district personnel and services. It can also establish programs to make loans and grants of public money. The district can impose a sales and use tax, an operation and maintenance tax, and an ad valorem tax, subject to voter approval. The district can issue bonds, secure them with revenue or contract payments, and pledge revenue to pay for bonds.

Establishes Montgomery County Management District No. 3 to promote economic development and impose taxes.

The bill creates the Montgomery County Management District No. 3, a special district in Texas, to promote economic development and stimulate business activity. The district can engage in activities such as making loans, providing grants, and offering district personnel and services. It can also establish programs to make loans and grants of public money. The district can impose a sales and use tax, an operation and maintenance tax, and an ad valorem tax, subject to voter approval. The district can issue bonds, secure them with revenue or contract payments, and pledge revenue to pay for bonds.